I was curious a bit and checked ~ it seems to have 2 problems:
1) Hardware transform, uncheck to see anything.
2) Freezes when 08A97D50(sceKernelDelayThreadCB) get's an argument of 0 ~ which doesn't really have much sense as it should be valid parameter, but forcing it to some value will run the game fine. You can try:

Unfortunately those are not the only issues. There are short pauses in game, not sure it it's caused by that 1 microsecond delay cwc hack or something else, because those pauses are surely longer than 1 microsecond and from what I tested it was also happening without any hacks in older builds:
- v0.9.8-1354-g633120b - works fine ~ with those irritating pauses, they are a bit different or rather completely random, doesn't happen every time, sometimes they start in-game, sometimes are even worse starting from the intro,
- v0.9.8-1365-g1a830b1 - freezes just as the latest version.

Either way game got completely broken somewhere between v0.9.8-1354-g633120b - v0.9.8-1365-g1a830b1, not sure if there was any earlier version without those pauses, they seem kind of random in ancient builds. Maybe it's JIT having some troubles, I mean there's a very long function in this game at 08807784 which completely lags ppsspp disassembly, if JIT has to refresh it every single time it's triggered(and it does pass through it when the pause happens), then it might as well be the reason.:| Edit: Weird, those pauses seems random on latest build+hack as well. I did tried to mess around by setting very high psp cpu clock and was restarting emulation a few times without any improvement, then randomly after one restart the pauses stopped happening.

Not sure about point 1) v0.9.8-1354-g633120b seems to work even with hardware transform activated. The game doesn't seem all that demanding - without hardware transform or even software mode easy to get full speed. Yet in some places it reaches single digit at 100% speed because of how it works heh, pretty sad port. Edit: About point 1 just checked and hardware transform for this game actually broke very recently with v1.1.1-12-gf4d50fe :3.

Edit:
Should be playable without issues now starting with v1.4.1-2-g1bf3885.